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Mutual Trust Bank PLC (MTB) in partnership with Wagely Bangladesh Ltd and Visa launched a ground-breaking Prepaid Card Solution on February 5th, 2024 on MTB premises.
Wagely currently provides access to earned but unpaid wages to the employees of its member organizations. The card is designed to help the employees get this fund instantly. When an employee initiates a fund request through Wagely’s App, MTB will credit the amount to the prepaid card on real time basis.
This specialized prepaid card solution not only alleviates financial stress for employees but also promotes financial inclusion in society. Wagely’s mission as a financial well-being company comes to fruition with this remarkable collaboration with MTB.
Cardholders will enjoy special discount offers at renowned lifestyle brands and restaurants year long. The card is also a dual currency card that can be used for international transactions as well in line with the guidelines issued by the central bank. Cardholders will enjoy seamless banking experience through MTB’s state of the art Smart Banking App.
The launch event was graced by Syed Mahbubur Rahman, Managing Director & CEO, MTB, Kevin Hausburg, CEO, Wagely, Noor Elahi, Managing Director, Wagely Bangladesh, Soumya Basu, Country Manager, Visa Bangladesh and the senior officials from MTB, Wagely & Visa.
Syed Mahbubur Rahman, Managing Director & CEO of MTB, said, “This partnership aligns perfectly with our commitment to financial inclusion and digital innovation. By providing a powerful financial tool to the unbanked, we aim to contribute significantly to the economic empowerment of individuals and communities.”
“We believe that financial well-being is fundamental to a thriving society, and this co-branded prepaid card is a testament to our commitment to making a positive impact on the lives of employees,” said Kevin Hausburg, CEO of Wagely.
Soumya Basu, Country Manager of Visa Bangladesh said “I am thrilled to applaud the ground-breaking collaboration between MTB and Wagely, leveraging digital innovation to foster financial inclusion. Together, they have redefined the landscape of financial services, empowering individuals and shaping a more accessible and inclusive future for all.’